Tipalti, a Foster City, CA-based global payables automation platform, raised $150 million in incremental growth financing from JPMorgan Chase Bank and Hercules Capital, Inc.
The additional capital will be utilized by Tipalti to further invest in product innovation and provide enhanced support to its customers.
Tipalti's cloud-based platform offers comprehensive automation of the accounts payable process. This enables their 3,000+ mid-market customers across 196 countries to easily make payments to suppliers. With the backing of their new partners, Tipalti aims to assist even more companies in effectively managing complex payables operations at scale.
In addition to the funding announcement, Tipalti revealed the appointment of three new executives to its leadership team, Perla Stoeckert joins as Chief Compliance Officer, Alice Davidson assumes the role of General Counsel, and Des Cahill joins as Chief Marketing Officer.
"Tipalti is seeing tremendous growth as more and more companies adopt our platform to automate their finance operations," said Sarah Spoja, CFO of Tipalti. "It's a privilege to work with world-renowned leaders like J.P. Morgan and Hercules Capital whose support of Tipalti enables us to accelerate the evolution of our innovative solutions so we can continue to deliver exceptional value to our customers around the globe."
Company: Tipalti Inc.
Raised: $150.0M
Round: Incremental Growth Financing
Funding Month: May 2023
Lead Investors: JPMorgan Chase Bank and Hercules Capital, Inc
Additional Investors:
Company Website: https://tipalti.com/
Software Category: Accounting Software
About the Company: Founded in 2010 by Chen Amit and Oren Zeev, Tipalti is an accounting software and financial technology business that provides accounts payable, procurement, and global payments automation software for businesses. Tipalti is handling both global partner payments and accounts payable workflows for high-velocity companies across the entire financial operations cycle: onboarding and managing global suppliers, instituting procurement controls, streamlining invoice processing and approvals, executing payments around the world and reconciling payables data across a multi-subsidiary finance organization. Tipalti enables companies to scale quickly by making payables strategic with operational, compliance, and financial controls. Companies can efficiently and securely pay thousands of partners and suppliers in 196 countries within minutes. Thousands of companies, such as Amazon Twitch, GoDaddy, Roku, WordPress.com, and ZipRecruiter use Tipalti.
Source: https://www.prnewswire.com/news-releases/tipalti-secures-150-million-in-growth-financing-from-jpmorgan-chase-bank-and-hercules-capital-301823802.html